Question

6. Calculate the compound interest on 15,000
in 3 years; if the rates of interest for
successive years be 6%, 8% and 10%
respectively.​

Answer 1

Answer:

MATHS

Calculate the compound interest on Rs. 15,000 in 3 years; if the rates of interest for successive years be 6%, 8% and 10% respectively.

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ANSWER

Simple Interest I=

100

PNR

Here for first year,

P=Rs.15,000

N=1 year

R=6 %

So, Interest at the end of 1st year I=

100

15,000×1×6

=Rs.900

And for second year,

P=Rs.15,000+Rs.900=Rs.15,900

N=1 year

R=8%

I=

100

15,900×1×8

=Rs.1272

And, for third year,

P=Rs.15,900+Rs.1,272=Rs.17,172

N=1 year

R=10%

I=

100

17,172×1×10

=Rs.1,717.2

So, total interest =Rs.900+Rs.1,272+Rs.1,717.2=Rs.3,889.20

Answer 2

Answer:

3889.2

Step-by-step explanation:

P=15000

T=3

R=6,8,10

A=P(1+R/100)^t

A=15000*106/100*108/100*110/100

A=18889.2

CI=A-P

CI=18889.2-15000

CI=3889.2